MiniScribe Corporation Case Solution
MiniScribe fabricated disk drives for personal computers. A turnaround specialist stumbled during an industry shake, but rescued it. The turnaround seemed to be dramatic, but it was only just imagination. Moreover, four years after the success, the company announced that all past financial statements were inaccurate, and tremendous losses wiped out all equity.
In the ensuing investigation, it came out that a high number of employees had caved in to seemingly extraordinary pressure for consequences and had adopted several fraudulent schemes to raise gains. Possibly the most eccentric scheme was to package bricks and ship them as disk drives. Sixteen individuals were affected by the US, SEC as well as the bankers in investment and accountants were sued for significant damages.
PUBLICATION DATE: February 24, 1998
This is just an excerpt. This case is about LEADERSHIP & MANAGING PEOPLE
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